Unregistered Sale of Alleged XRP Securities Filed in Califonia

Unregistered Sale of Alleged XRP Securities On May 3, 2018, class action was filed against Ripple Labs, Inc., its wholly owned subsidiary XRP II, LLC, Mr. Bradley Garlinghouse (Ripple Labs Inc. CEO) and other 10...

Wyoming State in a Race to be USA’s Friendly Home for ICOs

The US State of Wyoming legislature unanimously passed a bill that provides exemption from security regulations if they satisfy three key requirements as of July 2018. The bill states that: Except as otherwise provided by...

SEC and CFTC Mandarins Cautious Views on Cryptocurrencies

On 4th February 2018, the Chairman of the Securities and Exchange Commission (SEC), Mr Jay Clayton and the Chairman of the Commodity Futures Trading Commission (CFTC), Mr Christopher Giancarion appeared before the Senate Committee...

US Rules ICOs and Token Sales are Sales of Securities

Legal implications are being assigned to blockchain projects in the US as the Securities and Exchange Commission has ruled that investment methods employed by blockchain-based projects – such as Initial Coin Offerings or Token...

SEC – tokens can be ‘securities’

  U.S. Securities and  Exchange Commission - Action SEC claims The DAO tokens are securities That there are violations that have taken place However has refrained from pursuing promoters Motivation is deterrence Motivation...

BTC-e Fined by FinCEN

  BTC-e fined for violation of US AML laws Prosecution against BTC-E Canton Business Corporation for “willfully violating U.S. anti-money laundering (AML) laws” Penalty USD$110,003,314 of which USD$12 million penalty against Alexander Vinnik one of...

Delaware Update

  Delaware bill Senate bill 69 Location of bill Details of bill and location for download: https://legis.delaware.gov/BillDetail?legislationId=25730 Status of bill Signed into law on 21 July 2017. Purpose Delaware approved bill to allow for share records to...

Bill436: New Hampshire has increased the scope of MSB licensing and clarified exemptions

Bill436: New Hampshire has increased the scope of MSB licensing and clarified certain exemptions for users of virtual currency. House bill 666 (HB666) regulated money transmission services using virtual currency. This was approved in July...

Don’t forget to register with FinCEN if you are a foreign digital currency exchange

Sometimes there is a misconception that if you are based outside of the US and operating a digital currency exchange with US customers that there is no requirement to comply with US rules. That is...

“The Times They Are A Changin’” – tax enforcement against cryptoexchanges is the new...

The United States Internal Revenue Service (IRS) has requested details on Coinbase’s users to identify any tax violations. This action seems to have arisen as a result of US Treasury reprimanding the IRS for not...